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Pan Ocean invests in Korea’s top airline

South Korea’s Pan Ocean has bought a 5% stake in Hanjin KAL Corp, the largest shareholder of Korean Air Lines, spending $95m to become the fifth largest shareholder in the airline group.
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Another shipping line is showing an interest in airlines. South Korea’s Pan Ocean has bought a 5% stake in Hanjin KAL Corp, the largest shareholder of Korean Air Lines, spending $95m to become the fifth largest shareholder in the airline group.

Last year, Pan Ocean, owned by Korean poultry producer Harim Group, attempted to buy a financially troubled local budget airline, Eastar Jet, but saw its bid fail.

Over the last couple of years a host of European liners have created airline divisions including Maersk, CMA CGM and Mediterranean Shipping Co.

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